Status holder incentive scheme(shis)

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

24 December 2015 if i take a license of SHIS for purchase of asset and i had incurred expense of Rs. 10000 on purchase of this license then can i capitalise this expense or not?

Arpit Shah

Arpit Shah (Expert)
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24 December 2015 http://taxguru.in/excise-duty/exemption-status-holder-incentive-scrip-shis-scheme.html

Querist : Anonymous

Querist : Anonymous (Querist)

25 December 2015 Can you please clarify this because it is not clear according to these article?

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RAMESH KUMAR VERMA

RAMESH KUMAR VERMA (Expert)
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26 December 2015 Status Holder Incentive Scrip (SHIS) shall be used for import of capital goods (as
defined in FTP) relating to sectors specified in Para 3.16.4

Querist : Anonymous

Querist : Anonymous (Querist)

26 December 2015 yes, but i want to ask that expenses that are incurred on purchase of SHIS can be capitalised by me or not. I am not talking about SHIS value.

RAMESH KUMAR VERMA

RAMESH KUMAR VERMA (Expert)
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26 December 2015 Pls Note that expenditure is capitalised only when it increases the future economic benefits from the specific asset to which it relates.